##TheStrategyLab Price Action Chat Room Logs

Session Start: Tue Apr 07 09:16:28 2009
Session Ident: #futurestrades
[09:16] * Now talking in #futurestrades
[09:16] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:29] <drt> everyone
[09:32] <gabe> ok, great
[09:33] <+gabe>
[09:33] <jbuch> GM
[09:34] <werner> jbuch ,all
[09:37] <@NihabaAshi> Shorts ES @ 815.00 -> medium size
[09:37] <@NihabaAshi> 4 only
[09:38] <@NihabaAshi> I'm bearish out of the gate and will wait for the market to tell me I'm wrong via a string of losses
[09:39] <+jbuch> Long SPY @ 81,85
[09:39] <@NihabaAshi> Covered all ES Short @ 814.50 --> + 0.5
[09:41] <+jbuch> Exited all SPY Long @ 81.92 --> + 81.92 - 81,85
[09:41] <+jbuch> morning werner
[09:42] <szubaark> Shorts ES @ 813.50 «« paper »»
[09:46] <+codehead> 810-811.75 is target for long
[09:54] <+szubaark>
[10:10] <+codehead> long 814.25 ES 2c <paper>
[10:10] <+codehead> jumping ahead of a vegas here, but that's what i'm looking at
[10:10] <+codehead> a little early...
[10:10] <+jbuch> this may be a sign of how bearish the sentiment is right now SPY is not available to short. to many people have already shorted it
[10:11] <+szubaark> lol
[10:11] <+codehead> exit ES +.25 <paper>
[10:11] <+codehead> no trigger yet, early
[10:12] <+codehead> 810-811.75 major retracement zone
[10:12] <+szubaark> i got 809+ Target
[10:13] <+jbuch> will have to go back to sds for shorts and spy for longs or futures
[10:13] <+codehead> vegas still trying to trigger
[10:14] <+szubaark> Covered all Short ES at 815.25 --> - 1.75 «« paper »»
[10:14] <+szubaark> Buys ES @ 815.25 «« paper »»
[10:24] <+szubaark> Exited all Long ES at 815.25 --> 0 «« paper »»
[10:24] <+szubaark> ::((
[10:26] <+szubaark> damn shook me out
[10:28] <+codehead> BAC and C green
[10:28] <+werner> Shorts NQ @ 1287.25
[10:28] <+drt> s es 117
[10:29] <+codehead> 117.5 is symmetry
[10:29] <+codehead> (already hit)
[10:29] <+werner> Covered 1/2 NQ Short @ 1286. --> + 1.25
[10:30] <+werner> Covered all NQ Short @ 1285.25 --> + 2
[10:30] <+szubaark> Shorts ES @ 817.75 «« paper »»
[10:32] <+szubaark> Covered all Short ES at 818.50 --> - 0.75 «« paper »»
[10:32] <+drt> cs es 119
[10:33] <+codehead> short ES 820.5 <paper>
[10:34] <+codehead> 2.25 stop for now...
[10:35] <+codehead> exit half ES +1.00 <paper>
[10:35] <+codehead> stop remainder 821.0 <paper>
[10:37] <+codehead> exit remainder flat <paper>
[10:38] <+werner> [16:10] <+jbuch> this may be a sign of how bearish the sentiment is right now SPY is not available to short. to many people have already shorted it
[10:38] <+werner> vn call
[10:39] <+codehead> woah
[10:39] <+szubaark> Shorts ES @ 820 «« paper »»
[10:41] <+codehead> short ES 820.75 <paper> 2c only
[10:41] <+codehead> stop 822.75
[10:41] <+codehead> exit half +1.00 <paper>
[10:42] <pdays> Shorts TF @ 442.1
[10:43] <+pdays> Covered all TF Short @ 441.6 --> + 0.5
[10:43] <@NihabaAshi> Shorts ES @ 819.50 -> small size
[10:43] <@NihabaAshi> 3 only
[10:44] <+codehead> first target 817.75
[10:44] <+codehead> then 814.5
[10:44] <+codehead> if lower
[10:45] <@NihabaAshi> Covered all ES Short @ 819.50 --> 0
[10:45] <@NihabaAshi> be back later...my mind is not in the game today.
[10:45] * NihabaAshi is now known as NihabaAshi_away
[10:46] <+codehead> exit +.5 remainder <paper>
[10:47] <+szubaark> Covered all Short ES at 821 --> - 1 «« paper »»
[10:50] <+szubaark> Shorts ES @ 821.25 «« paper »»
[10:50] <+werner> sorry jbuch i read it wrong , i think you where calling that there are no sellers there ((....
[10:54] <+codehead> 3 min ghost
[10:54] <+codehead> try
[10:57] <@X> #FuturesTrades Info -> Archived trade posting chat logs have a new location. They are now stored @ viewforum.php?f=20
[10:59] <+drt> l es 820
[11:01] <+werner> Shorts NQ @ 1288.00
[11:01] * NihabaAshi_away is now known as NihabaAshi
[11:02] <+jbuch> Spoke with another person at trade station.This guy says that it is just a tech thing (they have a source from where they borrow shares and for whatever reason they were not able to get them this morning. sounded kinda sketchy) he does not think that it has any meaning on sentiment.
[11:04] <+drt> cl es 820.50
[11:05] <+szubaark> got greedy didnt exit at 819 Overnight Support
[11:08] <+werner> Covered 1/2 NQ Short @ 1286.50 --> + 1.5
[11:08] <+szubaark> Covered all Short ES at 819 --> + 2.25 «« paper »»
[11:08] * Reno-Away is now known as Reno
[11:11] <+werner> Covered all NQ Short @ 1288.00 --> 0
[11:11] <+Reno> Long ES @ 819.50 «« paper »»
[11:11] <+werner> dam i cant hold it
[11:12] <+werner> it can be a hl
[11:12] <+codehead> 816 taget downside...
[11:13] <+codehead> hit .382 pb
[11:13] <+codehead> 818.5
[11:13] <+werner> i see vwap on 16.9
[11:13] <+codehead> 817.25 is .500, 816.0 .618
[11:15] <+werner> ym and nq on vwap
[11:15] <+werner> tf and es not yet
[11:16] <+werner> brb
[11:24] <+werner> Long NQ @ 1287.50
[11:27] <+Reno> Exited all ES Long @ 818.25 --> - 1.25 «« paper »»
[11:27] <+werner> Exited all NQ Long @ 1285.00 --> - 2.5
[11:27] <+werner> ai oei auw
[11:27] <+Reno> too early on my entry again
[11:27] <+Reno> could have gotten a better price and risked less
[11:28] <+szubaark> yea with low volatility conditions like we having now, entries have to be Perfect
[11:29] <+Reno> yeah gonna step away for awhile until things pick up
[11:30] <+Reno> this could put me asleep and put me in the hole at the same time
[11:31] * Reno is now known as Reno-Away
[11:32] <winmax60> Long ES @ 822.25 -> small size «« simulator »»
[11:34] <+winmax60> Exited all ES Long @ 820.5 --> - 1.75 «« simulator »»
[11:34] <+werner> Long NQ @ 1288.50
[11:35] <+winmax60> oops...correction...long @ 820.25 exit @ 820.50 +0.25
[11:39] <+werner> Exited all NQ Long @ 1284.00 --> - 4.5
[11:39] <+werner>
[11:41] <+szubaark> Buys ES @ 817.25 «« paper »»
[11:43] <+werner> Shorts NQ @ 1283.25
[11:45] <+werner> Covered all NQ Short @ 1282.25 --> + 1
[11:50] * Reno-Away is now known as Reno
[11:51] <+werner> Shorts NQ @ 1283.00
[11:52] <+Reno> Shorts ES @ 817.25 «« paper »»
[11:57] <+werner> Shorts NQ @ 1284.25 -> Add
[11:57] <+werner> Covered 1/2 NQ Short @ 1283.25 --> + 1
[12:02] <+szubaark> Chop now we should POP
[12:03] <+Reno> Covered all ES Short @ 818.75 --> - 1.5 «« paper »»
[12:03] <+werner> Shorts NQ @ 1285.25 -> Add
[12:04] <+werner> Covered 1/2 NQ Short @ 1284.25 --> + 1
[12:04] <+Reno> Shorts ES @ 817.50 «« paper »»
[12:04] <+szubaark> Exited all Long ES at 817.50 --> + 0.25 «« paper »»
[12:04] <+szubaark>
[12:06] <rickf> gday
[12:07] <+szubaark> Shorts ES @ 817 «« paper »»
[12:08] <+werner> Covered all NQ Short @ 1283.00 --> 0
[12:08] <+werner>
[12:11] <+jbuch> whats happening rick
[12:11] <+rickf> not much
[12:11] <+Reno> Covered all ES Short @ 819 --> - 1.5 «« paper »»
[12:11] <+rickf> just getting in and settled
[12:13] <+Reno> Long ES @ 818.50 «« paper »»
[12:18] <+werner> Shorts NQ @ 1285.25
[12:18] <+werner> stop 1287
[12:19] <+werner> 1e exit 1283.5
[12:19] <+werner> 2e 1281.5
[12:19] <+werner>
[12:28] <Reno79> Exited all ES Long @ 817.50 --> - 1 «« paper »»
[12:29] <@NihabaAshi> Long ES @ 817.00 -> small size
[12:30] <@NihabaAshi> 3 only
[12:32] <+Reno79> Shorts ES @ 817 «« paper »»
[12:35] <@NihabaAshi> Exited all ES Long @ 817.25 --> + 0.25
[12:35] <@NihabaAshi> rude price action after it hit 818.00
[12:35] <@NihabaAshi>
[12:36] <+szubaark> is market waiting on something? why the small chop ranges this week?
[12:36] <@NihabaAshi> same as usual every year...
[12:36] <@NihabaAshi> It's Easter week
[12:37] <+rickf> yeah
[12:37] * +rickf closed on friday too
[12:37] <+rickf> plus the masters' is on tv
[12:37] <+Reno79> Covered all ES Short @ 818.50 --> - 1.5 «« paper »»
[12:38] <@NihabaAshi> Long ES @ 817.50 -> small size
[12:38] <@NihabaAshi> 3 only
[12:38] <@NihabaAshi> Pin ball machine
[12:39] * Reno79 is now known as Reno-Away
[12:40] <+szubaark> Volatility Increasing
[12:40] <@NihabaAshi> geeesh...its all over the map
[12:41] <@NihabaAshi> Exited all ES Long @ 817.00 --> - 0.5
[12:42] <+szubaark> Covered all Short ES at 817 --> 0 «« paper »»
[12:42] <+szubaark> cant watch this anymore
[12:44] <@NihabaAshi> Long ES @ 817.50 -> small size
[12:44] <@NihabaAshi> 3 only
[12:47] <+jbuch> Long SPY @ 82.22
[12:48] <+rickf> lunchtime - back in a bit
[12:49] <+jbuch> Exited all SPY Long @ 82.23 --> + 0.01
[12:49] <+jbuch> no patience today
[12:53] <@NihabaAshi> Exited all ES Long @ 818.50 --> + 1
[12:54] * Reno-Away is now known as Reno
[12:56] <+Reno> Long ES @ 818.75 «« paper »»
[12:59] <+jbuch> Long SPY @ 82.3
[13:00] <@NihabaAshi> Long ES @ 818.75 -> small size
[13:00] <@NihabaAshi> 1 only
[13:00] <@NihabaAshi> intuition
[13:01] <+codehead> 08:13 codehead: 816 taget downside...
[13:01] <+codehead> that was a goodie
[13:01] <+codehead> note that tops are in a line
[13:01] <+codehead> and evenly spaced
[13:02] <+codehead> will be obvious breakout
[13:03] <@X> #FuturesTrades Info -> Archived trade posting chat logs have a new location. They are now stored @ viewforum.php?f=20
[13:03] <+jbuch> Exited SPY Long @ 82.3 --> 0
[13:03] <+jbuch> Reverse and Enter Short SPY @ 82.3
[13:03] <+Reno> Exited all ES Long @ 817.75 --> - 1 «« paper »»
[13:04] <@NihabaAshi> Exited ES Long @ 817.75 --> - 1
[13:04] <@NihabaAshi> Reverse and Enter Short ES @ 817.75
[13:05] <+jbuch> Covered all SPY Short @ 82.16 --> + 0.14
[13:07] <@NihabaAshi> Covered ES Short @ 816.75 --> + 1
[13:09] <+jbuch> Long SPY @ 82.03
[13:11] <+jbuch> Exited all SPY Long @ 81.99 --> - 0.04
[13:12] <+jbuch> Long SPY @ 82
[13:14] <+jbuch> Long SPY @ 81.94 -> Add
[13:15] <@NihabaAshi> Shorts ES @ 815.25 -> small size
[13:15] <@NihabaAshi> 3 only
[13:15] <+jbuch> Exited all SPY Long @ 81.89 --> - 0.16
[13:15] <@NihabaAshi> chasing big time after an entry problem that kepted me from getting Short @ 816.00
[13:21] <+rickf> sheesh - tempted to just take the week off
[13:21] <+rickf> nothing even in fx to catch my interest right now
[13:22] <+jbuch> Exited all SPY Long @ 81.85 --> - 0.15
[13:24] <@NihabaAshi> Covered all ES Short @ 813.75 --> + 1.5
[13:24] <+rickf> this is not good ..... Treasury says they're delaying results of stress tests until after earnings
[13:24] <+rickf> "to avoid complicating stock market reaction" they say
[13:25] <@NihabaAshi> With all the mass shootings in the news for the month of March by people that couldn't handle normal stresses after losing their jobs or after unable to find employment...
[13:26] <@NihabaAshi> I wouldn't be surprise we start hearing about white collar folks from Wall Street doing the same if the economy breaks downward out of it's current tight range.
[13:27] <+rickf> yes, really
[13:27] <@NihabaAshi> Lots of folks have lost their pension plans, 401ks et cetera but they still have jobs.
[13:28] <+rickf> as i see it the economy fundamentals still stink, it's just the 20% up in the indices seems to give euphoria to folks who think the end is in sight and all will be well again
[13:28] * Forex2stay is now known as Forex2stay_Away
[13:28] <@NihabaAshi> Will be scary to see what happens if those same folks lose their jobs too.
[13:28] <+rickf> no kidding
[13:29] * +rickf saw a news vid last night about a jobs center in pittsburgh - line was around the block, with ppl of all ages and backgrounds. they interviewed a chemical engineer looking for work as well .. so it' snot minimum wagers only
[13:30] <@NihabaAshi> Here in Canada they lost about 18 - 20 billion dollars from pension plan.
[13:31] <@NihabaAshi> Down another 8 - 10 billion this year so far...
[13:32] <@NihabaAshi> I believe the current value its around 108 billion and their predicting another 8 billion loss off that to bring it down to around 100 billion by end of year.
[13:32] <@NihabaAshi> Crazy
[13:32] <+rickf> wow
[13:33] <@NihabaAshi> Note: Pension Plans here mainly grow by institutions designated to trade the money in the market.
[13:33] <+rickf> how many got killed with cdos, sivs, and so forth .... talk about a ponzi scheme
[13:45] <+jbuch> Shorts SPY @ 81.74
[13:47] <+Reno> Shorts ES @ 812.75 «« paper »»
[13:47] <+jbuch> Covered all SPY Short @ 81.7 --> + 0.04
[13:50] <+szubaark> Shorts ES @ 811.75 «« paper »»
[13:51] <+szubaark>
[13:52] <+szubaark> crap its gonna retrace on me
[13:53] <+jbuch> Long SPY @ 81.71
[13:53] <+Reno> Covered all ES Short @ 813.75 --> - 1 «« paper »»
[13:53] <+szubaark> gonna sit thru this retrace
[13:54] <+Reno> Shorts ES @ 814 «« paper »»
[13:56] <+jbuch> Exited all SPY Long @ 81.81 --> + 0.1
[14:05] <+Reno> should break this time
[14:05] <+szubaark> ohh yeah..markets finally in sync
[14:06] <+Reno> just guessing, but 800-802 should be like a magnet now
[14:07] <@NihabaAshi> I'm done trading for the day...didn't get a lot of last night due to sick spouse and one of the kids is sick too.
[14:07] <@NihabaAshi> Simply, I've been dragging my feet all day.
[14:08] <+jbuch> Long SPY @ 81.58
[14:08] <+Reno> rest up and see you tomorrow
[14:08] <@NihabaAshi> Take care all and see all tomorrow
[14:08] <@NihabaAshi> Thanks Reno...bye
[14:08] * NihabaAshi is now known as NihabaAshi_away
[14:10] <+jbuch> Exited all SPY Long @ 81.7 --> + 0.12
[14:13] <+Reno> Shorts ES @ 813.25 -> Add «« paper »»
[14:13] <drt> s ex 13.25
[14:14] <+Reno> exit stop set ES @ 814.75 «« paper »»
[14:14] <+szubaark> tricky bounce here
[14:14] <+Reno> either gonna work for me or bite me in the a$$
[14:14] <+szubaark> bastids wanna retrace more of the downmove, thought they were done
[14:15] <+codehead> short 814.0 stop 815.25 <paper>
[14:16] <+codehead> but 814.75 touch i look for exit
[14:17] <+codehead> exit +.5 <paper>
[14:18] <+jbuch> Shorts SPY @ 81.79
[14:18] <+drt> cs es 13
[14:28] <+jbuch> Covered all SPY Short @ 81.78 --> + 0.01
[14:28] <+szubaark> what a Chop
[14:48] <+rickf> i doubt i'll get a trade in today
[14:49] <+rickf> even looking @ different charts and intervals, we're treading water
[14:54] <+jbuch> yup it is a messy day
[14:57] <+szubaark> this is why experience is so important knowing when to pick em and when to skip em
[14:58] <+Reno> yeah, trading like a beginner again today
[15:01] <+jbuch> cause you got to know when to hold em (when to hold em),know when to walk away , know when to run
[15:01] <+jbuch> everybody now sing along
[15:02] <+szubaark> yea they dont teach that in tutorials or seminarrs and books
[15:03] <+szubaark> u need a sixth sense for this trading crap
[15:03] <+rickf> which imho is a fallacy of auto trade systems -- no room for 'context' to let you know when to sit out
[15:03] <+rickf> but jb you spoke the Holy Grail if there ever is one ... know when to hold fold or watch
[15:05] <+jbuch> words of wisdom from kenny rogers
[15:05] <+Reno> stop set at 814.75 - brb
[15:06] <@X> #FuturesTrades Info -> Archived trade posting chat logs have a new location. They are now stored @ viewforum.php?f=20
[15:07] <+szubaark> Covered all Short ES at 813.25 --> - 1.5 «« paper »»
[15:07] <+jbuch> Long SPY @ 81.71
[15:09] <+szubaark> Buys ES @ 814 «« paper »»
[15:09] <+szubaark> GO!!!!!
[15:09] <+jbuch> Exited 1/2 SPY Long @ 81.84 --> + 0.13
[15:10] <+szubaark> sneaky bugger..possible bottom on ES BUT trend is DOWN
[15:12] <+Reno> Covered all ES Short @ 814.75 --> - 2.25 «« paper »»
[15:12] <+szubaark>
[15:12] <+Reno>
[15:12] <+szubaark> guess the bottom is in for today
[15:13] <+szubaark> testing downtrendline
[15:13] <+szubaark> POP should be FAST and VISCIOUS
[15:13] <+Reno> REALLY bad day for me
[15:14] <+szubaark> how much? then ill tell u my bad days
[15:14] <+szubaark> u trade 1 contract?
[15:14] <+Reno> got to get away from this and try to wrap my head around where I went wrong
[15:14] <+Reno> well lets see
[15:15] <+Reno> -$500, at least
[15:15] <+jbuch> Exited Remainder SPY Long @ 81.99 --> + 0.28
[15:15] <+Reno> 1 contract only
[15:15] <+Reno> added on last loser
[15:16] <+szubaark> not bad...$500 down days are average for me 1 contract
[15:16] <+Reno> not in right mind frame today
[15:16] <+codehead> 816.5 is .500 of reg session range
[15:17] <+szubaark> Exited all Long ES at 817 --> + 3 «« paper »»
[15:17] <+Reno> good luck guys and see you tomorrow morning
[15:17] * Reno is now known as Reno-Away
[15:18] <+gabe> Shorts ES @ 817.00
[15:19] <+gabe> exit stop moved to breakeven ES @ 817.00
[15:20] <+gabe> out
[15:24] <+jbuch> Long SPY @ 82.01
[15:29] <+jbuch> Exited all SPY Long @ 81.99 --> - 0.02
[15:30] <szubaark_Away> Buys ES @ 814.75 «« paper »»
[15:31] <+rickf> consumer credit got whacked last month
[15:35] <+szubaark_Away> exit stop set ES @ 815 «« paper »»
[15:36] <+rickf> ok quitting time ... first day in a long time no trades for me
[15:36] <+szubaark_Away> Exited all Long ES at 815.25 --> + 0.5 «« paper »»
[15:36] <+rickf> have a good one, see y'all tomorrow
[15:46] <+szubaark_Away> Shorts ES @ 818.50 «« paper »»
[15:48] <+gabe> Shorts ES @ 818.25
[15:50] <+gabe> Covered all ES Short @ 816.25 --> + 2
[15:50] <+szubaark_Away> Covered all Short ES at 817 --> + 1.5 «« paper »»
[17:09] <@X> #FuturesTrades Info -> Archived trade posting chat logs have a new location. They are now stored @ viewforum.php?f=20
[19:15] <@X> #FuturesTrades Info -> Archived trade posting chat logs have a new location. They are now stored @ viewforum.php?f=20
Session Close: Tue Apr 07 20:12:43 2009